Bill Text: NY S04880 | 2011-2012 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Establishes a motor fuel and Diesel motor fuel holiday tax credit to be taken against personal income taxes for certain summer holiday weekends.

Spectrum: Partisan Bill (Republican 6-0)

Status: (Engrossed - Dead) 2012-06-13 - PRINT NUMBER 4880D [S04880 Detail]

Download: New_York-2011-S04880-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        4880--D
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                    April 28, 2011
                                      ___________
       Introduced  by  Sens.  BALL,  GRISANTI,  LARKIN,  NOZZOLIO, RANZENHOFER,
         ROBACH -- read twice and ordered  printed,  and  when  printed  to  be
         committed to the Committee on Investigations and Government Operations
         -- reported favorably from said committee and committed to the Commit-
         tee   on  Finance  --  committee  discharged,  bill  amended,  ordered
         reprinted as amended and recommitted to said  committee  --  committee
         discharged, bill amended, ordered reprinted as amended and recommitted
         to  said  committee  -- recommitted to the Committee on Investigations
         and Government Operations in accordance with Senate Rule 6, sec. 8  --
         committee  discharged,  bill amended, ordered reprinted as amended and
         recommitted to said committee -- reported favorably from said  commit-
         tee and committed to the Committee on Finance -- committee discharged,
         bill  amended,  ordered  reprinted  as amended and recommitted to said
         committee
       AN ACT to amend the tax law, in relation to establishing  a  motor  fuel
         holiday tax credit for the 2012 tax year
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
    2  subsection (uu) to read as follows:
    3    (UU)  MOTOR  FUEL  HOLIDAY TAX CREDIT. (1) RESIDENTS. FOR THE TAX YEAR
    4  BEGINNING ON JANUARY FIRST, TWO THOUSAND TWELVE AND ENDING BEFORE  JANU-
    5  ARY  FIRST, TWO THOUSAND THIRTEEN, A TAXPAYER SHALL BE ALLOWED A CREDIT,
    6  TO BE COMPUTED AS PROVIDED IN PARAGRAPH FOUR OF THIS SUBSECTION, AGAINST
    7  THE TAXES IMPOSED BY THIS ARTICLE FOR TAXES PAID  UPON  MOTOR  FUEL  AND
    8  DIESEL  MOTOR FUEL PURCHASED FROM A FILLING STATION IN THIS STATE DURING
    9  A MOTOR FUEL TAX HOLIDAY; PROVIDED, HOWEVER, THAT SUCH CREDIT SHALL  NOT
   10  EXCEED  TWENTY-FIVE DOLLARS. IF THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
   11  THIS SUBSECTION FOR ANY TAX YEAR SHALL EXCEED  THE  TAXPAYER'S  TAX  FOR
   12  SUCH YEAR, THE EXCESS MAY BE CARRIED OVER TO THE FOLLOWING YEAR OR YEARS
   13  AND MAY BE DEDUCTED FROM THE TAXPAYER'S TAX FOR SUCH YEAR OR YEARS.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD11057-16-2
       S. 4880--D                          2
    1    (2) NONRESIDENTS. IN THE CASE OF A NONRESIDENT TAXPAYER OR A PART-YEAR
    2  RESIDENT  TAXPAYER, THE CREDIT DETERMINED UNDER THIS SUBSECTION SHALL BE
    3  LIMITED TO THE AMOUNT DETERMINED BY MULTIPLYING THE AMOUNT OF SUCH CRED-
    4  IT BY THE NEW YORK SOURCE FRACTION AS SET FORTH IN  PARAGRAPH  THREE  OF
    5  SUBSECTION (E) OF SECTION SIX HUNDRED ONE OF THIS ARTICLE. THE CREDIT AS
    6  SO  LIMITED  SHALL  BE  APPLIED  AS  PROVIDED  IN  PARAGRAPH ONE OF THIS
    7  SUBSECTION.
    8    (3) DEFINITIONS. FOR PURPOSES OF THIS SUBSECTION:
    9    (A) "MOTOR FUEL TAX HOLIDAY" SHALL MEAN (I) THE PERIOD  COMMENCING  ON
   10  THE  FRIDAY  IMMEDIATELY  PRECEDING THE FOURTH DAY OF JULY AND ENDING ON
   11  THE FIRST MONDAY FOLLOWING THE FOURTH  OF  JULY;  AND  (II)  THE  PERIOD
   12  COMMENCING  ON  THE FRIDAY IMMEDIATELY PRECEDING LABOR DAY AND ENDING ON
   13  THE FIRST TUESDAY FOLLOWING LABOR DAY.
   14    (B) "DIESEL MOTOR FUEL" AND "MOTOR FUEL" SHALL HAVE THE SAME  MEANINGS
   15  AS SECTION TWO HUNDRED EIGHTY-TWO OF THIS CHAPTER.
   16    (C)  "FILLING  STATION"  SHALL  HAVE  THE  SAME MEANING AS SECTION TWO
   17  HUNDRED EIGHTY-TWO OF THIS CHAPTER.
   18    (4) CREDIT COMPUTATION. FOR THE PURCHASE OF  MOTOR  FUEL,  THE  CREDIT
   19  SHALL  EQUAL  THE PRODUCT OF THIRTY-THREE CENTS MULTIPLIED BY THE NUMBER
   20  OF GALLONS OF GASOLINE PURCHASED IN THIS STATE DURING A MOTOR  FUEL  TAX
   21  HOLIDAY,  PROVIDED  THAT SUCH CLAIM IS SUPPORTED BY RECEIPTS LISTING THE
   22  NUMBER OF GALLONS PURCHASED AND THE  LOCATION  OF  THE  FILLING  STATION
   23  WHERE  SUCH  MOTOR  FUEL WAS PURCHASED. FOR THE PURCHASE OF DIESEL MOTOR
   24  FUEL, THE CREDIT SHALL EQUAL THE PRODUCT OF THIRTY-TWO CENTS  MULTIPLIED
   25  BY  THE  NUMBER  OF GALLONS OF DIESEL MOTOR FUEL PURCHASED IN THIS STATE
   26  DURING A MOTOR FUEL TAX HOLIDAY, PROVIDED THAT SUCH CLAIM  IS  SUPPORTED
   27  BY  RECEIPTS LISTING THE NUMBER OF GALLONS PURCHASED AND THE LOCATION OF
   28  THE FILLING STATION WHERE SUCH DIESEL MOTOR FUEL WAS PURCHASED.
   29    S 2. This act shall take effect immediately.